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Tuesday, 11 June 2019

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Fund transfers via RTGS, NEFT to cost less from July 1

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The Reserve Bank of India on Tuesday said it will waive all charges on fund transfer through popular RTGS and NEFT systems from July 1 and asked banks to pass on the benefits to customers from the same day. The Real Time Gross Settlement System (RTGS) is meant for large-value instantaneous fund transfers while the National Electronic Funds Transfer (NEFT) System is used for fund transfers of up to Rs 2 lakh.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2MGa8zG
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